Sri Lanka Equity Analytics

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May 31, 2010

Sri Lanka Stock Market Update - 31st May 2010

Sri Lankan stocks closed lower Monday, with trade driven by retail investors and foreigners largely staying out of the becalmed market, brokers said.

The All Share Price Index closed at 4,237.16, down 0.33 percent (13.83 points) while the more liquid Milanka index fell 0.08 percent (3.95 points) to close at 4,757.40.
Turnover was 1.2 billion rupees, according to stock exchange provisional figures.

"The sentiment is still retailer driven," said Nikita Tissera, manager - research at SC Securities.

"We still see upside potential for key stocks despite the drop in the overall indices. The lack of foreign activity however remains a slight concern."

Loss-making tableware exporter Dankotuwa Porcelain, which is in talks with a prospective investor seeking capital needed for a turnaround, was the most actively traded stock.

The stock closed at 18.50 rupees, up 1.50 with over 2.8 million shares traded.

Renuka Agrifoods was also heavily traded, closing at 4.10 rupees, down 10 cents.

Piramal Glass Ceylon, whose Indian parent firm is reportedly seeking to exit glass manufacturing, closed at 2.70 rupees, up 10 cents.
John Keells Holdings closed at 183.75, up 3.75, while its subsidiary John Keells Hotels closed flat at 19.25.

Courtesy - LBO
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May 26, 2010

Sri Lanka Stock Market Update - 26th May 2010

Sri Lankan stocks closed higher Wednesday helped by midcap and penny stocks, while Confifi Hotels stocks shot up 46.5 percent amidst low volume trading in take-over play, brokers said.

The All Share Price Index closed at 4,250.99, up 24.50 points, while the Milanka index of more liquid stocks rose 0.84 percent (39.57 points) to close at 4,76.35.
Turnover was 1.09 billion rupees, according to stock exchange provisional figures.

Confifi Hotels closed at 318.00 rupees, up 101.00 with only 63,000 shares traded, while Riverina Hotels closed at 125.75 rupees, down 3.50.

On Tuesday Lanka Orix Leasing Company (LOLC) group and Browns bought a 43.3 percent stake in Confifi Hotels and a 20 percent block in Riverina Hotels.

LOLC closed at 265.25 rupees, down 11.50, Brown and Company closed at 103.00 rupees, up 4.75.

A range of midcap and small shares made gains, brokers said.

Asia Capital, an investment bank with stock brokering licenses closed at 33.00 rupees, up 2.00, Ceylon Hospitals closed at 75.75 rupees, up 3.25, Diesel and Motor Engineering (DIMO) closed at 433.75 rupees, up 24.25.
Galadari Hotels closed at 32.50 rupees, up 2.00, NAMAL Acuity Value Fund closed at 68.75 rupees, up 3.25, The Lion Brewery closed at 104.25 rupees, up 2.00, Sigiriya Village Hotels closed at 68.50 rupees, up 7.75.

Conglomerates, Hayleys closed at 294.25 rupees, down 7.75, Hemas Holdings closed at 148.25 rupees, up 10.75, and John Keells Holdings closed at 180.00 rupees, up 2.50.

Commercial Bank closed at 249.25 rupees, up 25 cents, Hatton National Bank non-voting closed at 170.00 rupees, up 2.50, Sampath Bank closed at 283.75 rupees, up 3.50 and Seylan Bank closed at 55.00 rupees, up 1.00.

Courtesy - LBO
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May 22, 2010

Sri Lanka Stock Market Update - 21st May 2010

Sri Lankan stocks closed down Friday as retail investors took profits ahead of a possible technical correction in future, while heavy interest on John Keells Holdings (JKH) and Hayleys boosted turnover, brokers said.
The All Share Price Index closed at 4,235.69, down 12.68 points, while the Milanka index of more liquid stocks fell 1.04 percent (49.85 points) to close at 4,738.73.
Turnover was 1.78 billion rupees, according to stock exchange provisional figures.

Retail investors took profits especially from midcap and high value shares, brokers said.

High interest on JKH and Hayleys helped turnover pass 1.5 billion rupees, brokers said.

JKH closed at 180.25 rupees, down 25 cents with over two million shares changing hands, and Hayleys closed at 295.00 rupees, up 10.00 with almost 700,000 shares traded, brokers said.

Aitken Spence closed at 1,550.25 rupees, down 50 cents, and Hemas Holdings closed at 139.00 rupees, down 1.25.

Commercial Bank closed at 248.50 rupees, down 50 cents, Hatton National Bank closed at 242.25 rupees, down 2.00, Nations Trust Bank closed flat at 37.25 rupees, Sampath Bank closed at 284.00 rupees, down 1.00 and Seylan Bank closed at 54.00 rupees, down 50 cents.

National Development Bank closed flat at 215.00 rupees, and DFCC Bank closed at 203.75 rupees, down 3.00.
Midcap stocks Asian Alliance Insurance closed at 53.25 rupees, down 5.50, Asian Hotels and Properties closed at 148.00 rupees, down 4.00, Ceylon Investment closed at 300.25, down 8.75 and Dipped Products closed at 111.25 rupees, down 3.25.

Courtesy - LBO
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May 21, 2010

Sri Lanka Stock Market Update - 20th May 2010

Sri Lankan stocks closed up Thursday despite investors taking profits on selected shares, while considerable interest in banking stocks boosted turnover, brokers said.

The All Share Price Index closed at 4,248.37, up 4.83 points, while the more liquid Milanka index fell 0.09 percent (4.13 points) to close at 4,788.58.
Turnover was 1.3 billion rupees, according to stock exchange provisional figures.

"There was selling pressure due to investors realizing gains," Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

"Investors are looking for stocks with growth potential."

Brokers said retail participation was lower due to floods caused by heavy rain disrupting vehicular traffic in Colombo.

There was high interest in banking sector shares, brokers said.

Commercial Bank closed at 249.00 rupees, up 25 cents with over 683,000 shares changing hands in a privately negotiated off-the-floor deal, and Hatton National Bank closed at 244.25 rupees, up 3.00 rupees with 895,000 shares privately traded between 242 to 245 rupees, brokers said.

Nations Trust Bank closed at 37.25 rupees, down 25 cents, Sampath Bank closed at 285.00 rupees, up 1.75 and Seylan Bank closed at 54.50 rupees, down 50 cents.
Sri Lankan Telecom closed flat at 37.50 rupees, and Dialog Telekom, a unit of Axiata Malaysia also closed flat at 8.50 rupees.

Investors took profits from selected midcap and high value stocks, brokers said.

At the end of trade there were 48 gainers versus 103 losers, brokers said.

"We could expect the volatility to continue as investors search for stocks with growth potential," Perera said.

Aitken Spence closed at 1,550.75 rupees, up 75 cents, Hayleys closed at 285.00 rupees, down 1.50, Hemas Holdings closed at 140.25 rupees, down 1.75 and John Keells Holdings closed at 180.50 rupees, down 75 cents.

Abans Electricals closed at 184.00 rupees, down 2.00, Asia Capital closed at 34.75 rupees, down 1.25, Capital Reach Leasing closed at 22.00 rupees, down 1.00, First Capital Holdings closed at 19.50 rupees, down 1.25 and Lanka Milk Foods closed at 97.50 rupees, down 1.50.
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May 20, 2010

Sri Lanka Stock Market Update - 19th May 2010

Sri Lankan stocks closed lower Wednesday with investors seen losing interest in shares whose prices had risen sharply as the market reached record highs in recent weeks, brokers said.

The All Share Price Index closed at 4,243.54, down 0.33 percent (14.13 points) while the more liquid Milanka index fell 0.62 percent (29.94 points) to close at 4,792.71.
Turnover was 1.3 billion rupees, according to stock exchange provisional figures.

"Market activity continued to remain high, but unlike the first quarter of the year, we see price movements both ways," said Nikita Tissera, manager - research at SC Securities.

"Despite the higher prices, we still see value in the overall market while the over-bought stocks have lost investor flavour over time.

"We also see tendencies of the investor appetite somewhat slipping away from the 'high caps' and move towards the 'mid' and the 'low caps'."

Brokers said a negotiated off-the-floor deal of 11 million shares of Janashakthi Insurance Company at 14 rupees a share dominated the day's trade.

Janashakthi Insurance Company closed flat at 14 rupees a share

There were six smaller deals or 'crossings; of Distilleries Company of about a million shares. The stock closed at 125 rupees, up 1.25.

Ceylon Leather Products shares continued to rise on expectations of a rights issue or warrants. The stock closed at 168.25 rupees, up 8.50.

Courtesy - LBO
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May 18, 2010

Sri Lanka Stock Market Update - 18th May 2010

Sri Lankan shares bounced back Tuesday as price gains on index heavy high value stocks pushed the market up, while heavy institutional interest on Commercial Bank drove trading volumes up, brokers said.

The All Share Price Index closed at 4,257.67, up 15.18 points, while the Milanka index of more liquid stocks gained 0.80 percent (38.07 points) to close at 4,822.65.
Turnover was 2.0 billion rupees, according to stock exchange provisional figures.

"Apart from a few large blocks that dominated turnover the market was mainly dominated by speculative trading," Thakshila Hulangamuwa, vice president at stock brokering house Asha Phillip Securities said.

"A large quantity of Ceylon Leather Products traded in the market with the anticipation of a rights issue."

In a privately negotiated off-the-floor deal two million shares of Commercial Bank of Ceylon changed hands at 246.00 rupees. It closed at 245.75 rupees, up 1.75.

Hatton National Bank closed at 238.50 rupees, up 4.25, Nations Trust Bank closed at 37.50 rupees, down 25 cents, Sampath Bank closed at 285.00 rupees, up 1.75 and Seylan Bank closed at 55.25 rupees, down 1.75.

Ceylon Leather Products was the second most actively traded stock on the market. It closed at 159.75 rupees, up 15.25, brokers said.

Airken Spence closed at 1,550.25 rupees, down 50 cents, John Keells Holdings closed at 183.00 rupees, up 50 cents, Hayleys closed flat at 285.00 rupees and Hemas Holdings closed 141.25 rupees, down 75 cents.
"Profit-taking in selected stocks still continues in market," Hulangamuwa said.

ACME Printing and Packaging closed at 26.00 rupees, down 2.00, Nawaloka Hospitals closed at 6.00 rupees, down 25 cents and The Colombo Fort Land and Building closed at 87.25 rupees, down 2.75.

Courtesy - LBO
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Sri Lanka Stock Market Update - 17th May 2010

Sri Lankan shares closed down Monday as investors took profits to re-invest in those that offer higher value, while trading volumes were hit as retail investors stayed away owing to heavy rain which caused floods in the capital, brokers said.

The All Share Price Index closed at 4,242.49, down 9.95 points, while the Milanka index of more liquid stocks dipped 0.30 percent (14.29 points) to close at 4,784.58. Turnover was 984 million rupees, according to stock exchange provisional figures.

"The market saw a bit of selling pressure due to profit-talking," Rakshitha Perera, research manager at Bartleet Mallory Stockbrokers said.

"However, despite the selling investors were seen buying into stocks that offered single-digit price to earnings (P/E) values."

Investor participation at the Colombo Stock Exchange (CSE) was much lower than normal days. This may be due to the parts of Colombo being submerged by heavy pre-monsoon rains which disrupted vehicular traffic, brokers said.

At the end of trade there were 82 gainers and 70 losers, brokers said.

In a private off-the-floor deal, 1.6 million shares of John Keells Holdings, a conglomerate with business interest in transport, leisure, food processing, financial services and retail business changed hands at 184 rupees per share. It closed at 182.50 rupees, down 2.25.

Aitken Spence closed at 1,55.75, down 1.75, Hayleys closed at 285.00 rupees, up 4.00 and Hemas Holdings closed at 142.00 rupees, up 1.25.
Commercial Bank of Ceylon closed at 246.00 rupees, up 4.00, Hatton National Bank closed at 234.25 rupees, up 1.25, Sampath Bank closed at 283.25 rupees, down 1.25 and Seylan Bank closed flat at 57.00 rupees.

Sri Lanka Telecom, a fixed line operator close at 38.00 rupees, up 1.00, and Dialog Telekom, a unit of Axiata Malaysia closed flat at 8.75 rupees.

Courtesy - LBO
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